Pin Oak Investment Advisors Inc. Makes New $226,000 Investment in Coca-Cola Consolidated, Inc. $COKE

Pin Oak Investment Advisors Inc. purchased a new position in Coca-Cola Consolidated, Inc. (NASDAQ:COKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,961 shares of the company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COKE. Biglari Capital CORP. bought a new position in Coca-Cola Consolidated in the 2nd quarter valued at about $9,752,000. Ascentis Independent Advisors bought a new stake in shares of Coca-Cola Consolidated during the 1st quarter worth about $31,000. Torren Management LLC bought a new stake in shares of Coca-Cola Consolidated during the 4th quarter worth about $29,000. Morse Asset Management Inc acquired a new stake in shares of Coca-Cola Consolidated in the 4th quarter worth approximately $31,000. Finally, Ballast Advisors LLC bought a new position in shares of Coca-Cola Consolidated in the first quarter valued at approximately $38,000. 48.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COKE. Wall Street Zen lowered shares of Coca-Cola Consolidated from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Coca-Cola Consolidated in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Coca-Cola Consolidated presently has an average rating of “Buy”.

Coca-Cola Consolidated Trading Up 2.0%

Shares of Coca-Cola Consolidated stock opened at $198.49 on Friday. The company’s 50-day moving average price is $186.16 and its two-hundred day moving average price is $187.19. Coca-Cola Consolidated, Inc. has a 52 week low of $110.60 and a 52 week high of $219.65. The stock has a market cap of $13.21 billion, a PE ratio of 26.32 and a beta of 0.55.

Coca-Cola Consolidated (NASDAQ:COKE) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.83 earnings per share for the quarter. The company had revenue of $2.05 billion during the quarter. Coca-Cola Consolidated had a net margin of 7.15% and a negative return on equity of 1,041.59%.

Coca-Cola Consolidated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 24th were given a $0.25 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.00 annualized dividend and a yield of 0.5%. Coca-Cola Consolidated’s payout ratio is 13.26%.

About Coca-Cola Consolidated

Founded in 1902 and headquartered in Charlotte, North Carolina, Coca-Cola Consolidated, Inc is the largest independent bottler of Coca-Cola products in the United States. The company manufactures, sells and distributes a broad portfolio of sparkling and still beverages under exclusive agreements with The Coca-Cola Company. Its brand lineup includes Coca-Cola, Diet Coke, Sprite and Fanta, as well as noncarbonated offerings such as Minute Maid juices, Gold Peak teas, Dasani water, Powerade sports drinks and vitaminwater.

Coca-Cola Consolidated’s operations span 14 states and the District of Columbia across the Southeastern, South Central and Mid-Atlantic regions.